2020 Q4 Form 10-K Financial Statement

#000089968921000009 Filed on February 16, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2018 Q4
Revenue $376.4M $461.0M $543.4M
YoY Change -18.35% -15.17% 1.34%
Cost Of Revenue $189.0M $224.0M $254.3M
YoY Change -15.63% -11.92% 13.02%
Gross Profit $187.4M $237.0M $289.1M
YoY Change -20.93% -18.02% -7.1%
Gross Profit Margin 49.79% 51.41% 53.2%
Selling, General & Admin $61.30M $39.80M $32.90M
YoY Change 54.02% 20.97% 15.03%
% of Gross Profit 32.71% 16.79% 11.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $112.0M $96.90M $119.0M
YoY Change 15.58% -18.57% -2.7%
% of Gross Profit 59.77% 40.89% 41.16%
Operating Expenses $175.3M $136.6M $139.8M
YoY Change 28.33% -2.29% -6.61%
Operating Profit $12.10M $100.4M $149.3M
YoY Change -87.95% -32.75% -7.55%
Interest Expense -$29.40M -$32.00M -$29.60M
YoY Change -8.13% 8.11% -62.67%
% of Operating Profit -242.98% -31.87% -19.83%
Other Income/Expense, Net $7.900M $4.800M -$4.800M
YoY Change 64.58% -200.0% -181.36%
Pretax Income -$210.5M $183.5M $130.2M
YoY Change -214.71% 40.94% 41.21%
Income Tax -$1.800M $22.90M $32.70M
% Of Pretax Income 12.48% 25.12%
Net Earnings -$195.0M $205.8M $113.0M
YoY Change -194.75% 82.12% 155.08%
Net Earnings / Revenue -51.81% 44.65% 20.79%
Basic Earnings Per Share $1.01 $0.53
Diluted Earnings Per Share -$1.019M $1.01 $0.53
COMMON SHARES
Basic Shares Outstanding 191.4M shares 191.0M shares 190.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.624B $1.548B $723.1M
YoY Change 4.92% 114.12% -63.85%
Cash & Equivalents $1.624B $1.515B $570.9M
Short-Term Investments $0.00 $33.31M $152.2M
Other Short-Term Assets
YoY Change
Inventory $128.0M $409.0M $100.0M
Prepaid Expenses
Receivables $752.0M $838.0M $1.008B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.504B $2.762B $1.679B
YoY Change -9.34% 64.5% -40.1%
LONG-TERM ASSETS
Property, Plant & Equipment $9.286B $10.44B $13.06B
YoY Change -11.04% -20.06% 10.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.495B $4.255B $1.329B
YoY Change -17.86% 220.17% -16.62%
Other Assets $479.0M $446.0M $546.0M
YoY Change 7.4% -18.32% 8.76%
Total Long-Term Assets $13.72B $15.53B $15.50B
YoY Change -11.64% 0.15% 6.21%
TOTAL ASSETS
Total Short-Term Assets $2.504B $2.762B $1.679B
Total Long-Term Assets $13.72B $15.53B $15.50B
Total Assets $16.22B $18.29B $17.18B
YoY Change -11.29% 6.44% -1.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $427.0M $440.0M $431.0M
YoY Change -2.95% 2.09% 3.61%
Accrued Expenses $401.0M $498.0M
YoY Change -19.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $828.0M $1.336B $431.0M
YoY Change -38.02% 209.98% 3.61%
LONG-TERM LIABILITIES
Long-Term Debt $7.399B $7.407B $9.837B
YoY Change -0.11% -24.7% -3.42%
Other Long-Term Liabilities $440.0M $1.344B $1.022B
YoY Change -67.26% 31.51% 26.96%
Total Long-Term Liabilities $7.839B $8.751B $10.86B
YoY Change -10.42% -19.41% -1.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $828.0M $1.336B $431.0M
Total Long-Term Liabilities $7.839B $8.751B $10.86B
Total Liabilities $8.667B $10.09B $11.29B
YoY Change -14.07% -10.65% -1.02%
SHAREHOLDERS EQUITY
Retained Earnings -$2.774B -$1.954B -$4.167B
YoY Change 41.96% -53.1% -0.38%
Common Stock $7.633M $7.618M $7.600M
YoY Change 0.2% 0.24% 0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.533B $6.732B $4.465B
YoY Change
Total Liabilities & Shareholders Equity $16.22B $18.29B $17.18B
YoY Change -11.29% 6.44% -1.25%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$195.0M $205.8M $113.0M
YoY Change -194.75% 82.12% 155.08%
Depreciation, Depletion And Amortization $112.0M $96.90M $119.0M
YoY Change 15.58% -18.57% -2.7%
Cash From Operating Activities $232.8M $264.5M $314.6M
YoY Change -11.98% -15.92% 58.49%
INVESTING ACTIVITIES
Capital Expenditures -$196.7M -$311.3M -$289.7M
YoY Change -36.81% 7.46% 77.19%
Acquisitions
YoY Change
Other Investing Activities -$14.50M $546.0M $64.30M
YoY Change -102.66% 749.14% 459.13%
Cash From Investing Activities -$211.2M $234.8M -$225.4M
YoY Change -189.95% -204.17% 48.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 218.4M -137.7M -292.1M
YoY Change -258.61% -52.86% -160.53%
NET CHANGE
Cash From Operating Activities 232.8M 264.5M 314.6M
Cash From Investing Activities -211.2M 234.8M -225.4M
Cash From Financing Activities 218.4M -137.7M -292.1M
Net Change In Cash 240.0M 361.6M -202.9M
YoY Change -33.63% -278.22% -138.35%
FREE CASH FLOW
Cash From Operating Activities $232.8M $264.5M $314.6M
Capital Expenditures -$196.7M -$311.3M -$289.7M
Free Cash Flow $429.5M $575.8M $604.3M
YoY Change -25.41% -4.72% 66.93%

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0 USD
CY2019 vno Gain Losson Transfer Of Interest In Properties To Real Estate Investments Joint Ventures
GainLossonTransferOfInterestInPropertiesToRealEstateInvestmentsJointVentures
2571099000 USD
CY2018 vno Gain Losson Transfer Of Interest In Properties To Real Estate Investments Joint Ventures
GainLossonTransferOfInterestInPropertiesToRealEstateInvestmentsJointVentures
0 USD
CY2020 vno Gain Loss Representing Purchasing Price Fair Value Adjustment
GainLossRepresentingPurchasingPriceFairValueAdjustment
0 USD
CY2019 vno Gain Loss Representing Purchasing Price Fair Value Adjustment
GainLossRepresentingPurchasingPriceFairValueAdjustment
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3437731000 USD
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459598000 USD
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2019 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
210872000 USD
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NetIncomeLoss
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NetIncomeLoss
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PreferredStockRedemptionPremium
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NetIncomeLossAvailableToCommonStockholdersBasic
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EarningsPerShareDiluted
16.21
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EarningsPerShareDiluted
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ProfitLoss
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1155000 USD
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0 USD
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ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
183090000 USD
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTax
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ComprehensiveIncomeNetOfTax
3100040000 USD
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ComprehensiveIncomeNetOfTax
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NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
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2.38
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DividendsPreferredStock
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33007000 USD
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29972000 USD
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NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
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CommonStockSpecialDividendsPerShareDeclared
1.95
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DividendCommonStockSpecialDividend
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CommonStockDividendsPerShareDeclared
2.64
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DividendsCommonStock
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DividendsPreferredStock
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StockIssuedDuringPeriodValueDividendReinvestmentPlan
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
45587000 USD
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StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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StockIssuedDuringPeriodValueShareBasedCompensation
990000 USD
CY2019 vno Other Comprehensive Income Loss Pro Rata Shareof Nonconsolidated Subsidiaries
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-2311000 USD
CY2019 vno Our Share Of Partially Owned Entities Oci Adjustments
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47885000 USD
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11720000 USD
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70810000 USD
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StockIssuedDuringPeriodValueDividendReinvestmentPlan
1390000 USD
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StockIssuedDuringPeriodValueShareBasedCompensation
1036000 USD
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UnearnedOutPerformancePlan
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1155000 USD
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14634000 USD
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ProfitLoss
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ProfitLoss
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ProfitLoss
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DepreciationDepletionAndAmortization
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DepreciationDepletionAndAmortization
438933000 USD
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DepreciationDepletionAndAmortization
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GainLossOnDispositionOfAssets1
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GainLossOnDispositionOfAssets1
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GainLossOnDispositionOfAssets1
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IncomeLossFromEquityMethodInvestmentsIncludingFeesEarnedIncludingDiscontinuedOperations
-329112000 USD
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IncomeLossFromEquityMethodInvestmentsIncludingFeesEarnedIncludingDiscontinuedOperations
78865000 USD
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IncomeLossFromEquityMethodInvestmentsIncludingFeesEarnedIncludingDiscontinuedOperations
9149000 USD
CY2020 vno Impairment Of Real Estate And Related Write Offs
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236286000 USD
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ImpairmentOfRealEstateAndRelatedWriteOffs
26705000 USD
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ImpairmentOfRealEstateAndRelatedWriteOffs
12000000 USD
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CY2019 vno Net Unrealized Gain Loss On Real Estate Fund Investments
NetUnrealizedGainLossOnRealEstateFundInvestments
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175246000 USD
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EquityMethodInvestmentDividendsOrDistributions
116826000 USD
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-70260000 USD
CY2019 vno Gain On Extinguishment Of Lease Liability And Operating Lease Impairment Loss
GainOnExtinguishmentOfLeaseLiabilityAndOperatingLeaseImpairmentLoss
75220000 USD
CY2018 vno Gain On Extinguishment Of Lease Liability And Operating Lease Impairment Loss
GainOnExtinguishmentOfLeaseLiabilityAndOperatingLeaseImpairmentLoss
0 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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63204000 USD
CY2019 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
17237000 USD
CY2018 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
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CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
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ShareBasedCompensation
53908000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
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StraightLineRent
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CY2018 us-gaap Straight Line Rent
StraightLineRent
7605000 USD
CY2020 us-gaap Amortization Of Below Market Lease
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16878000 USD
CY2019 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
19830000 USD
CY2018 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
38573000 USD
CY2020 us-gaap Provision For Loan Losses Expensed
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13369000 USD
CY2019 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2018 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2020 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-4938000 USD
CY2019 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-5533000 USD
CY2018 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-26453000 USD
CY2020 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 USD
CY2019 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
2571099000 USD
CY2018 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 USD
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020 vno Gain Loss Representing Purchasing Price Fair Value Adjustment
GainLossRepresentingPurchasingPriceFairValueAdjustment
0 USD
CY2019 vno Gain Loss Representing Purchasing Price Fair Value Adjustment
GainLossRepresentingPurchasingPriceFairValueAdjustment
0 USD
CY2018 vno Gain Loss Representing Purchasing Price Fair Value Adjustment
GainLossRepresentingPurchasingPriceFairValueAdjustment
44060000 USD
CY2020 vno Return Of Capital From Real Estate Fund Investments
ReturnOfCapitalFromRealEstateFundInvestments
0 USD
CY2019 vno Return Of Capital From Real Estate Fund Investments
ReturnOfCapitalFromRealEstateFundInvestments
0 USD
CY2018 vno Return Of Capital From Real Estate Fund Investments
ReturnOfCapitalFromRealEstateFundInvestments
20290000 USD
CY2020 vno Change In Valuation Of Deferred Tax Assets And Liabilities
ChangeInValuationOfDeferredTaxAssetsAndLiabilities
0 USD
CY2019 vno Change In Valuation Of Deferred Tax Assets And Liabilities
ChangeInValuationOfDeferredTaxAssetsAndLiabilities
0 USD
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ChangeInValuationOfDeferredTaxAssetsAndLiabilities
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CY2020 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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OtherNoncashIncomeExpense
3472000 USD
CY2018 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-7499000 USD
CY2020 vno Increase Decreasein Real Estate Fund Investments
IncreaseDecreaseinRealEstateFundInvestments
7197000 USD
CY2019 vno Increase Decreasein Real Estate Fund Investments
IncreaseDecreaseinRealEstateFundInvestments
10000000 USD
CY2018 vno Increase Decreasein Real Estate Fund Investments
IncreaseDecreaseinRealEstateFundInvestments
68950000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5330000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
25988000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
14532000 USD
CY2020 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
137452000 USD
CY2019 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-7558000 USD
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IncreaseDecreaseInPrepaidExpense
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IncreaseDecreaseInOtherOperatingAssets
52832000 USD
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4302000 USD
CY2018 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
84222000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
14868000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5940000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5869000 USD
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.082
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3538000 USD
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1626000 USD
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-11363000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
424240000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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662539000 USD
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CY2019 us-gaap Proceeds From Divestiture Of Interest In Joint Venture
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CY2019 vno Proceedsfrom Redemptionof Preferred Equity
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CY2019 vno Paymentsto Acquire Marketable Securitiesin Connectionwith Defeasanceof Mortgage Payable
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CY2018 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1607131000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1607131000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019 vno Write Off Of Fully Amortized And Depreciated Assets
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CY2020 vno Write Off Of Fully Amortized And Depreciated Assets
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CY2018 vno Write Off Of Fully Amortized And Depreciated Assets
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CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020 vno Investments Received In Exchange For Transfer To Joint Venture Preferred Equity
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CY2019 vno Investments Received In Exchange For Transfer To Joint Venture Preferred Equity
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CY2018 vno Investments Received In Exchange For Transfer To Joint Venture Preferred Equity
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CY2020 vno Investments Received In Exchange For Transfer To Joint Venture Common Equity
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CY2019 vno Investments Received In Exchange For Transfer To Joint Venture Common Equity
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CY2018 vno Investments Received In Exchange For Transfer To Joint Venture Common Equity
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CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2018 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Transfer Of Investments
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0 USD
CY2019 us-gaap Transfer Of Investments
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407126000 USD
CY2018 us-gaap Transfer Of Investments
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CY2020 vno Special Distribution Declaredand Payable
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0 USD
CY2019 vno Special Distribution Declaredand Payable
SpecialDistributionDeclaredandPayable
398292000 USD
CY2018 vno Special Distribution Declaredand Payable
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0 USD
CY2020 vno Defeasance Of Mortgage Payable
DefeasanceOfMortgagePayable
0 USD
CY2019 vno Defeasance Of Mortgage Payable
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390000000 USD
CY2018 vno Defeasance Of Mortgage Payable
DefeasanceOfMortgagePayable
0 USD
CY2020 vno Recognitionof Negative Basis Relatedto Saleof Investment
RecognitionofNegativeBasisRelatedtoSaleofInvestment
0 USD
CY2019 vno Recognitionof Negative Basis Relatedto Saleof Investment
RecognitionofNegativeBasisRelatedtoSaleofInvestment
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CY2018 vno Recognitionof Negative Basis Relatedto Saleof Investment
RecognitionofNegativeBasisRelatedtoSaleofInvestment
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CY2020 us-gaap Transfer To Investments
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0 USD
CY2019 us-gaap Transfer To Investments
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CY2018 us-gaap Transfer To Investments
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CY2020 us-gaap Nature Of Operations
NatureOfOperations
Organization and Business <div style="margin-bottom:3pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vornado Realty Trust (“Vornado”) is a fully‑integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P., a Delaware limited partnership (the “Operating Partnership”). Accordingly, Vornado’s cash flow and ability to pay dividends to its shareholders are dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. Vornado is the sole general partner of, and owned approximately 92.8% of the common limited partnership interest in the Operating Partnership as of December 31, 2020. All references to the “Company,” “we,” “us” and “our” mean, collectively, Vornado, the Operating Partnership and those subsidiaries consolidated by Vornado.</span></div><div style="margin-bottom:3pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We currently own all or portions of: </span></div><div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">New York:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">20.6 million square feet of Manhattan office space in 33 properties; </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">2.7 million square feet of Manhattan street retail space in 65 properties; </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">1,989 units in 10 Manhattan residential properties; </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The 1,700 room Hotel Pennsylvania located on Seventh Avenue at 33rd Street in the heart of the Penn District (closed since April 1, 2020 as a result of the COVID-19 pandemic); </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">A 32.4% interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns seven properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.3 million square foot Bloomberg, L.P. headquarters building; </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Signage throughout the Penn District and Times Square; and </span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Building Maintenance Services LLC ("BMS"), a wholly owned subsidiary, which provides cleaning and security services for our buildings and third parties.</span></div><div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Other Real Estate and Investments:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The 3.7 million square foot theMART in Chicago; </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">A 70% controlling interest in 555 California Street, a three-building office complex in San Francisco’s financial district aggregating 1.8 million square feet; </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">A 25.0% interest in Vornado Capital Partners, our real estate fund. We are the general partner and investment manager of the fun. The fund is in wind-down; and</span></div>•Other real estate and investments.
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-348744000 USD
CY2020 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
13369000 USD
CY2018 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
1910000 USD
CY2018 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
2592000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5798000 USD
CY2020 vno Minimum Percentage Of Taxable Income Distributed As Dividends
MinimumPercentageOfTaxableIncomeDistributedAsDividends
0.90
CY2020 vno Percentage Of Taxable Income Distributed
PercentageOfTaxableIncomeDistributed
1
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
15017000 USD
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
57226000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
29348000 USD
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
29444000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36630000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
103439000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37633000 USD
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.086
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.030
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3097806000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
384832000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
602430000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
95371000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
11260000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
228520000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
200913000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
234325000 USD
CY2020 vno Effective Income Tax Rate Reconciliation Sale Of Real Estate And Other Capital Transactions Amount
EffectiveIncomeTaxRateReconciliationSaleOfRealEstateAndOtherCapitalTransactionsAmount
-151960000 USD
CY2019 vno Effective Income Tax Rate Reconciliation Sale Of Real Estate And Other Capital Transactions Amount
EffectiveIncomeTaxRateReconciliationSaleOfRealEstateAndOtherCapitalTransactionsAmount
-2575435000 USD
CY2018 vno Effective Income Tax Rate Reconciliation Sale Of Real Estate And Other Capital Transactions Amount
EffectiveIncomeTaxRateReconciliationSaleOfRealEstateAndOtherCapitalTransactionsAmount
31527000 USD
CY2020 vno Income Tax Reconciliation Straight Line Rent Adjustment
IncomeTaxReconciliationStraightLineRentAdjustment
70923000 USD
CY2019 vno Income Tax Reconciliation Straight Line Rent Adjustment
IncomeTaxReconciliationStraightLineRentAdjustment
9057000 USD
CY2018 vno Income Tax Reconciliation Straight Line Rent Adjustment
IncomeTaxReconciliationStraightLineRentAdjustment
-7133000 USD
CY2020 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
11074000 USD
CY2019 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
150550000 USD
CY2018 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
15711000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
381000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
16597000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
22992000 USD
CY2020 vno Income Tax Reconciliation Tangible Property Regulations
IncomeTaxReconciliationTangiblePropertyRegulations
0 USD
CY2019 vno Income Tax Reconciliation Tangible Property Regulations
IncomeTaxReconciliationTangiblePropertyRegulations
57078000 USD
CY2018 vno Income Tax Reconciliation Tangible Property Regulations
IncomeTaxReconciliationTangiblePropertyRegulations
86040000 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
7950000 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
12575000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
18956000 USD
CY2020 vno Estimated Taxable Income Net
EstimatedTaxableIncomeNet
419812000 USD
CY2019 vno Estimated Taxable Income Net
EstimatedTaxableIncomeNet
917162000 USD
CY2018 vno Estimated Taxable Income Net
EstimatedTaxableIncomeNet
580446000 USD
CY2020Q4 vno Net Basis Difference Of Assets And Liabilities Between Tax Basis And Gaap Basis
NetBasisDifferenceOfAssetsAndLiabilitiesBetweenTaxBasisAndGaapBasis
3100000000 USD
CY2020 us-gaap Revenues
Revenues
1527951000 USD
CY2019 us-gaap Revenues
Revenues
1924700000 USD
CY2020 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1292174000 USD
CY2019 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1531917000 USD
CY2020 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
126907000 USD
CY2019 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
199291000 USD
CY2020 vno Operating Lease Contractual Lease Income
OperatingLeaseContractualLeaseIncome
1419081000 USD
CY2019 vno Operating Lease Contractual Lease Income
OperatingLeaseContractualLeaseIncome
1731208000 USD
CY2020 vno Adjustment For Straight Line Rents And Amortization Of Acquired Below Market Leases Net
AdjustmentForStraightLineRentsAndAmortizationOfAcquiredBelowMarketLeasesNet
12486000 USD
CY2019 vno Adjustment For Straight Line Rents And Amortization Of Acquired Below Market Leases Net
AdjustmentForStraightLineRentsAndAmortizationOfAcquiredBelowMarketLeasesNet
-5739000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
63204000 USD
CY2019 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
17237000 USD
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1343391000 USD
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1719710000 USD
CY2018 us-gaap Revenues
Revenues
2163720000 USD
CY2020 vno Real Estate Fund Textblock
RealEstateFundTextblock
Real Estate Fund Investments <div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    We are the general partner and investment manager of Vornado Capital Partners Real Estate Fund (the “Fund”) and own a 25.0% interest in the Fund, which had an initial eight-year term ending February 2019. On January 29, 2018, the Fund's term was extended to February 2023. The Fund's three-year investment period ended in July 2013. The Fund is accounted for under ASC 946, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Services – Investment Companies</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 946”) and its investments are reported on its balance sheet at fair value, with changes in value each period recognized in earnings. We consolidate the accounts of the Fund into our consolidated financial statements, retaining the fair value basis of accounting.</span></div><div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    We are the general partner and investment manager of the Crowne Plaza Times Square Hotel Joint Venture (the “Crowne Plaza Joint Venture”) and own a 57.1% interest in the joint venture which owns the 24.7% interest in the Crowne Plaza Times Square Hotel not owned by the Fund. The Crowne Plaza Joint Venture is also accounted for under ASC 946 and we consolidate the accounts of the joint venture into our consolidated financial statements, retaining the fair value basis of accounting. On June 9, 2020, the joint venture between the Fund and the Crowne Plaza Joint venture defaulted on the $274,355,000 non-recourse loan on the Crowne Plaza Times Square Hotel. The interest-only loan, which bears interest at a floating rate of LIBOR plus 3.69% (3.85% as of December 31, 2020) and provides for additional default interest of 3.00%, was scheduled to mature on July 9, 2020. </span></div><div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    As of December 31, 2020, we had four real estate fund investments through the Fund and the Crowne Plaza Joint Venture with an aggregate fair value of $3,739,000, $339,022,000 below cost, and had remaining unfunded commitments of $29,194,000, of which our share was $9,266,000. As of December 31, 2019, those four real estate fund investments had an aggregate fair value of $222,649,000.</span></div><div><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:14.583%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Below is a summary of loss from the Fund and the Crowne Plaza Joint Venture for the years ended December 31, 2020, 2019 and 2018.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.066%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.427%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.427%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.355%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.431%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Amounts in thousands)</span></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">For the Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2018</span></td></tr><tr><td colspan="3" style="background-color:#ccffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net unrealized loss on held investments</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226,107)</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(106,109)</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(83,794)</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment (loss) income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(220)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,027 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,105 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ccffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net realized loss on exited investments</span></td><td colspan="2" style="background-color:#ccffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ccffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td colspan="2" style="background-color:#ccffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ccffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td colspan="2" style="background-color:#ccffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(912)</span></td><td style="background-color:#ccffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">New York City real property transfer tax (the "Transfer Tax")</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,630)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ccffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loss from real estate fund investments</span></td><td colspan="2" style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226,327)</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td colspan="2" style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(104,082)</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td colspan="2" style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89,231)</span></td><td style="background-color:#ccffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less loss attributable to noncontrolling interests in consolidated subsidiaries</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163,213 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,274 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61,230 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ccffff;padding:2px 1pt 2px 19pt;text-align:left;text-indent:-18pt;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loss from real estate fund investments net of noncontrolling interests in consolidated subsidiaries</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63,114)</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48,808)</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ccffff;padding:0 1pt"/><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28,001)</span></td><td style="background-color:#ccffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:120%">____________________</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:107%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:107%;padding-left:8.68pt">Due to the additional Transfer Tax related to the March 2011 acquisition of One Park Avenue which was recognized as a result of the New York City Tax Appeals Tribunal (the "Tax Tribunal") decision in 2018. We appealed the Tax Tribunal's decision to the New York State Supreme Court, Appellate Division, First Department ("Appellate Division"). The Appellate Division entered a unanimous decision and order that confirmed the decision of the Tax Tribunal and dismissed our appeal. We filed a motion to reargue the Appellate Division's decision or for leave to appeal to the New York State Court of Appeals. That motion was denied in December 2019 and can no longer be appealed.</span></div>
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CY2019 vno Marketable Securities Transferof Investment Balance
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CY2020Q4 us-gaap Marketable Securities
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CY2019Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2019 vno Income Loss From Equity Method Investments Including Fees Earned
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CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2020Q4 us-gaap Finite Lived Intangible Assets Net
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CY2019Q4 us-gaap Finite Lived Intangible Assets Net
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CY2020Q4 vno Finite Lived Intangible Liability Gross
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CY2019Q4 vno Finite Lived Intangible Liability Gross
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316119000 USD
CY2020Q4 vno Finite Lived Intangible Liability Accumulated Amortization
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238541000 USD
CY2019Q4 vno Finite Lived Intangible Liability Accumulated Amortization
FiniteLivedIntangibleLiabilityAccumulatedAmortization
262580000 USD
CY2020Q4 vno Finite Lived Intangible Liabilities Net
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35361000 USD
CY2019Q4 vno Finite Lived Intangible Liabilities Net
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CY2020 vno Required Clawback Payment To Limited Partners At Liquidation
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CY2019Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
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CY2020Q4 us-gaap Preferred Stock Value
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CY2019Q4 us-gaap Preferred Stock Value
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CY2019Q4 us-gaap Preferred Stock Shares Outstanding
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CY2020Q4 us-gaap Preferred Stock Redemption Price Per Share
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CY2020 us-gaap Dividends Preferred Stock
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CY2019Q4 us-gaap Deferred Finance Costs Net
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38407000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
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CY2019 us-gaap Allocated Share Based Compensation Expense
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CY2018 us-gaap Allocated Share Based Compensation Expense
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CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
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CY2020 us-gaap Impairment Of Real Estate
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CY2019 us-gaap Impairment Of Real Estate
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CY2018 us-gaap Impairment Of Real Estate
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CY2020 vno Real Estate Acquisitionand Related Transaction Cost
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CY2019 vno Real Estate Acquisitionand Related Transaction Cost
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CY2018 vno Real Estate Acquisitionand Related Transaction Cost
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CY2018 us-gaap Real Estate Tax Expense
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CY2020 vno Transaction Related Costs Impairment Lossesand Other
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CY2019 vno Transaction Related Costs Impairment Lossesand Other
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CY2019 us-gaap Marketable Securities Unrealized Gain Loss
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CY2019 vno Intereston Cashand Cash Equivalentsand Restricted Cash
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CY2018 vno Intereston Cashand Cash Equivalentsand Restricted Cash
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CY2019 us-gaap Interest And Fee Income Loans And Leases
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CY2019 us-gaap Investment Income Dividend
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CY2020 vno Commitment To Fund Additional Capital To Partially Owned Entities
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CY2019 vno Interest And Other Investment Loss Income Net
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CY2019 vno Payments Of Equity Redemption Costs
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CY2019 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2018 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2019 vno Numerator For Basic Income Per Share
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384788000 USD
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CY2019 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2020 vno Earnings Allocated To Out Performance Plan Units
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0 USD
CY2019 vno Earnings Allocated To Out Performance Plan Units
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CY2018 vno Earnings Allocated To Out Performance Plan Units
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174000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
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3097563000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Diluted
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385024000 USD
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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190801000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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RealEstateAccumulatedDepreciation
3180175000 USD

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